The partially convertible rupee fell 13 paise to 77.81 versus the US dollar on the interbank foreign exchange market, a new low
The previous low was 77.7975, which was set on May 17.
The rupee gained 10 paise versus the US dollar on Wednesday, closing at 77.68.
The rupee has lost value due to recent increases in crude oil prices and inflationary pressures.
In India, inflation has become a big concern for policymakers.
Concerns about a persistent rise in imported inflation are raised by high crude oil prices.
The Reserve Bank of India (RBI) boosted its inflation forecast for the current fiscal year to 6.7 percent on Wednesday, up from 5.7 percent previously.
Inflation is likely to continue above the central bank's upper tolerance range of 6% for the first three quarters of 2022-23, according to the RBI's revised prediction released after the Monetary Policy Committee (MPC) meeting.
Inflation is expected to stay around 7.5 percent in the first quarter of this fiscal year.
It is expected to be 7.4% in the second quarter.
It is expected to be 6.2 percent in the third quarter.
"It's worth noting that the food group is responsible for almost 75% of the increase in inflation estimates.
Furthermore, the baseline inflation prediction of 6.7 percent for 2022-23 ignores the impact of current monetary policy actions "In his monetary policy announcement on Wednesday, RBI Governor stated.
